# LETI Pharma LETI Pharma is a Corporate Investor based in Barcelona, Spain. ## Overview - **Organization type:** Corporate Investor - **Headquarters:** Barcelona, Spain - **Region:** Europe - **Address:** Avda. Gran Via de les Corts Catalanes, 184, 08038 Barcelona, Spain - **Founded:** 1919 - **Assets under management:** Undisclosed - **Website:** leti.com - **LinkedIn:** https://www.linkedin.com/company/letipharma - **Wikidata:** Q30269087 ## Regulatory record - **Reports private funds:** No ## About Founded in 1919, LETI Pharma began as a family-owned pharmacy in Barcelona and evolved into one of Spain's few independent, research-driven biopharmaceutical companies still held by the founding family. President and CEO Jaime Grego Sabaté represents the third generation of the Grego family to control the firm. The family's influence extends beyond the lab — Sabaté is a former president of the Catalan Family Business Association (ASCEF), and the extended family includes former UNESCO Director-General Federico Mayor Zaragoza. This deep institutional lineage has insulated LETI from the exit pressures that consolidated most European specialty pharma peers. The firm allocates its corporate balance sheet across three primary vectors: internal pipeline development in allergy immunotherapy and dermatology, direct equity stakes in pre-clinical and clinical-stage biotechnology companies, and an allergy production and R&D plant in Tres Cantos, Madrid that serves as both a manufacturing asset and a scientific due-diligence facility. Its therapeutic focus spans respiratory allergies, venom allergies, and atopic dermatitis. Asebio, the Spanish biotechnology industry association, counts LETI as a founding member — reflecting an early institutional commitment to the country's innovation ecosystem. The firm has maintained membership in Farmaindustria's General Assembly and Executive Board, signaling active participation in Spanish pharmaceutical policy. LETI's governance reflects a tight family structure: Sabaté's children Federico Grego Mayor and María del Mar Grego Mayor both serve on the Board of Directors, while his son Jaime Grego-Mayor previously served as CEO before transitioning to Managing Partner at Advisory Board Architects and a YPO board role. The family's real estate holdings — including the La Campana headquarters on Gran Via in Barcelona and the Portal de l'Àngel Business Center — provide an additional, uncorrelated asset base underneath the pharmaceutical operations. The Fundación LETI, the family's philanthropic vehicle, operates alongside the corporate entity. LETI's structural differentiator is its fully integrated model — a pharmaceutical manufacturer that also functions as a corporate venture investor, using its own labs to de-risk the science it backs. Unlike a conventional family office that allocates to external funds, LETI invests directly from its operating balance sheet and can provide portfolio companies with manufacturing-scale infrastructure. This vertical integration gives the firm a sourcing advantage in Spanish and Southern European biotechnology, where academic spinouts often lack the cleanroom capacity LETI owns outright. ## Sectors - Biotechnology - Pharmaceuticals - Digital Health ## Offices - Tres Cantos, Madrid, Spain ## People - Jaime Grego Sabaté — President and CEO - Federico Grego Mayor — Board Member - María del Mar Grego Mayor — Board Member ## Questions ### Who controls investment decisions at LETI Pharma? Investment and capital allocation decisions are overseen by President and CEO Jaime Grego Sabaté, with board-level involvement from his children Federico Grego Mayor and María del Mar Grego Mayor. The firm operates without external limited partners, deploying directly from its corporate balance sheet. This governance structure means allocation decisions are centralized within the founding family. ### Does LETI Pharma take outside capital or operate as a fund? No. LETI deploys its own corporate balance sheet and reinvests retained earnings from its pharmaceutical operations. The firm has never raised a third-party fund. All investments are direct equity or direct balance-sheet allocations — there is no LP/GP structure. ### How does LETI Pharma source investment opportunities? LETI sources primarily through its deep institutional ties in Spanish biotechnology — it is a founding member of Asebio and an executive-level participant in Farmaindustria — and through the academic networks around Barcelona and Madrid. The firm's own researchers also surface opportunities when evaluating external science that complements internal pipeline programs. ### What is the relationship between LETI Pharma and Fundación LETI? Fundación LETI is the family's philanthropic entity, operating separately from the pharmaceutical and investment operations. Public records register the foundation independently. The Grego family maintains both structures, with the foundation's activities distinct from corporate balance-sheet allocations. ### Does LETI Pharma invest outside Spain? LETI's investment footprint is Iberian and Southern European at its core, but the firm exports pharmaceutical products internationally and evaluates European-wide biotechnology opportunities. The allergy immunotherapy market it operates in is inherently global. Specific non-Spanish portfolio positions have not been publicly disclosed. ## Related profiles - [Lester Financial Group](https://altss.com/profile/lester-financial-group) - [Letko Brosseau & Associates](https://altss.com/profile/letko-brosseau-associates) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/leti-pharma Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology